Aldar, Al Maabar launch project in Kazakhstan
Abu Dhabi, November 1, 2007
Abu Dhabi's Aldar Properties and Al Maabar have launched a new project in Astana, the capital city of Kazakhstan.
This international move by the property development firms will feature an integrated community development created for the rapidly growing capital city.
The launch was attended by President Nursultan Nazarbayev of Kazakhstan.
Abu Dhabi Plaza is a major mixed-use development, located in Special Economic Zone in the centre of Astana. It comprises a retail podium, integrated plaza, residential apartments, international grade office accommodation, and a hotel quarter.
This integrated community will be a 24-hour destination, offering complete leisure and work solutions for the residents of Abu Dhabi Plaza.
In his speech to the delegation attending the launch of this esteemed development, chairman of Aldar Properties Ahmed Ali Al Sayegh, said: “The Abu Dhabi Plaza development is a catalyst for the city of Astana to further develop its economy and bring business interest into the nation. We hope that this development will be viewed as an icon for Astana as well as a landmark for Kazakhstan on an international level.”
Al Maabar is a joint venture company created by Aldar Properties, Al Qudra Real Estate, Sorouh Real Estate, and Al Reem Investments to carry out further development. Al Maabar, meaning ‘gateway’ in Arabic, will also be the international property development company for any developments planned in the Gulf region, as well as Europe and North Africa.
Abu Dhabi Plaza has a five year construction period and the estimated completion date is 2012. -TradeArabia News Service